Higher education rankings significantly impact the global reputation and visibility of higher education institutions, which in turn can influence student enrolment, faculty recruitment, and funding opportunities (Marginson & Van der Wende, 2007). In this chapter, we will discuss various methodologies and criteria used to assess institutions in prominent international higher education rankings such as the QS World University Rankings, Times Higher Education World University Rankings, and the Academic Ranking of World Universities (ARWU, also known as the Shanghai Rankings), as well as regional and national rankings that evaluate institutions in Vietnam, such as QS Asia University Rankings and QS Vietnam University Rankings. Linking with Chapter 7, this chapter shows the impacts of establishing the national quality-assurance framework and implementing accreditation on the ranking performance of Vietnamese universities. In particular, this chapter explores the implications of rankings on the country’s higher education governance in multiple dimensions, including strategic planning and resource allocation, accountability and performance management, governance structures and processes, incentives and rewards, and quality assurance and continuous improvement. Besides the general data on current rankings of Vietnam’s higher education, this chapter also focuses on case studies of HEIs, which have had significant changes in ranking recently, such as Vietnam National University, Ton Duc Thang University, and Duy Tan University. This chapter also provides insight into the government’s different perspectives on university rankings, focusing on the discrepancies between national-level universities and private universities.